{"id":62,"date":"2017-02-01T12:59:00","date_gmt":"2017-02-01T12:59:00","guid":{"rendered":"https:\/\/www.biznessvirgins.com\/index.php\/2017\/02\/01\/the-diary-of-a-biznessvirgin-how-i-revived-my-failing-business\/"},"modified":"2020-02-20T10:01:48","modified_gmt":"2020-02-20T10:01:48","slug":"the-diary-of-a-biznessvirgin-how-i-revived-my-failing-business","status":"publish","type":"post","link":"https:\/\/www.biznessvirgins.com\/?p=62","title":{"rendered":"The diary of a Biznessvirgin : How i revived my failing business&#8230;."},"content":{"rendered":"<div>Exactly a year ago, my business hit a brick wall. <o:p><\/o:p><\/div>\n<div>Prior to this time, I had been struggling with cash flow issues; this continued to go on then business activities slowed down such that the business could no longer fund itself.<o:p><\/o:p><\/div>\n<div><\/div>\n<div>This was a really difficult time for me but today, I look back and am so grateful and happy, the business that got so close to shutting down currently records as much as 5-10 times its former revenue. <o:p><\/o:p><\/div>\n<div><\/div>\n<div>The recovery process has been marked by significant turning points and though the business is still a long way from where it can be, it continues to show substantial and consistent growth.<o:p><\/o:p><\/div>\n<div>From my experience, I share a few tips that can be used to troubleshoot failing businesses.<o:p><\/o:p><\/div>\n<div><\/div>\n<div><\/div>\n<div><o:p>&nbsp;<\/p>\n<table align=\"center\" cellpadding=\"0\" cellspacing=\"0\" style=\"margin-left: auto; margin-right: auto; text-align: center;\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><a href=\"https:\/\/2.bp.blogspot.com\/-s2bcfqRlnX8\/WJHbfehEIzI\/AAAAAAAAAg4\/YRKQjs-9uwU8QEatai8p9Lbfc9TfQV4mwCLcB\/s1600\/Because%2BI%2BCAN.jpg\" style=\"margin-left: auto; margin-right: auto;\"><img loading=\"lazy\" decoding=\"async\" alt=\"how to revive a failing business\" border=\"0\" height=\"240\" src=\"https:\/\/2.bp.blogspot.com\/-s2bcfqRlnX8\/WJHbfehEIzI\/AAAAAAAAAg4\/YRKQjs-9uwU8QEatai8p9Lbfc9TfQV4mwCLcB\/s320\/Because%2BI%2BCAN.jpg\" title=\"how to revive a failing business\" width=\"320\" \/><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">photo credit : www.frenchwhisk.blogspot.ca<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/o:p><\/div>\n<div style=\"mso-list: l0 level1 lfo1; text-indent: -.25in;\"><\/p>\n<ul>\n<li>&nbsp; &nbsp;<span style=\"font-size: 7pt; font-stretch: normal; line-height: normal; text-indent: -0.25in;\">&nbsp;&nbsp;<\/span><span style=\"text-indent: -0.25in;\">Focus on your customers; profile them and listen closely to them.<\/span><\/li>\n<li><span style=\"font-size: 7pt; font-stretch: normal; line-height: normal; text-indent: -0.25in;\">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<\/span><span style=\"text-indent: -0.25in;\">Personal effectiveness; sharpen your entrepreneurial character and skills, maximize the use of resources available to you.<\/span><\/li>\n<li>&nbsp; &nbsp; Work life balance; Make out quality time for the people you love and the things you enjoy.<\/li>\n<li>&nbsp; &nbsp; Assemble a formidable team.<\/li>\n<li>&nbsp; &nbsp; Hugely cut down on expenses, Closely monitor your cash flow; Know your revenue, gross and net profit.<\/li>\n<li><span style=\"font-stretch: normal; line-height: normal; text-indent: -0.25in;\">&nbsp; &nbsp;&nbsp;<\/span><span style=\"font-size: 7pt; font-stretch: normal; line-height: normal; text-indent: -0.25in;\">&nbsp;<\/span><span style=\"text-indent: -0.25in;\">Find a community of like-minded, credible entrepreneurs like yourself; you can learn and seek advice from within that space, they can also serve as a good support system.<\/span><\/li>\n<li><span style=\"font-size: 7pt; font-stretch: normal; line-height: normal; text-indent: -0.25in;\">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<\/span><span style=\"text-indent: -0.25in;\">Become more involved in the various aspects of the business.<\/span><\/li>\n<li>&nbsp; &nbsp; Spend less time trying to show off your business to everyone, instead invest time in talking more directly to your customers.<\/li>\n<li>&nbsp; &nbsp; &nbsp;Engage in more cash transactions or businesses that encourage quick turnover; this is not a good time to have a lot of people owing your business money.<\/li>\n<li>&nbsp; &nbsp; &nbsp;Be optimistic.<\/li>\n<li><span style=\"font-stretch: normal; line-height: normal; text-indent: -0.25in;\">&nbsp; &nbsp; &nbsp;<\/span><span style=\"font-size: 7pt; font-stretch: normal; line-height: normal; text-indent: -0.25in;\">&nbsp;<\/span><span style=\"text-indent: -0.25in;\">Invest in self development.<\/span><\/li>\n<\/ul>\n<p><!--[if !supportLists]--><\/div>\n<div style=\"mso-list: l0 level1 lfo1; text-indent: -.25in;\"><o:p><\/o:p><\/div>\n<div style=\"mso-list: l0 level1 lfo1; text-indent: -.25in;\"><o:p><\/o:p><\/div>\n<div style=\"mso-list: l0 level1 lfo1; text-indent: -.25in;\"><o:p><\/o:p><\/div>\n<div style=\"mso-list: l0 level1 lfo1; text-indent: -.25in;\"><o:p><\/o:p><\/div>\n<div><\/div>\n<div>These tips continue to play a major role in growing my business, I hope you find them helpful .<o:p><\/o:p><\/div>\n<div>The Biznessvirgins blog is offering an online business course to help businesses grow, it takes off February 20<sup>th<\/sup> , 2017, Interested applicants should send an email to <a href=\"mailto:biznessvirgins@gmail.com\">biznessvirgins@gmail.com<\/a>.<o:p><\/o:p><\/div>\n<div>The course will be offered FREE, However to be a part of the class, a payment of N5000 as commitment fee is required.<o:p><\/o:p><\/div>\n<div>This course is open to applicants outside Nigeria\u2026.<o:p><\/o:p><\/p>\n<p>Do not miss out on the opportunity to make your business better this year.<\/p><\/div>\n<div>I look forward to having you on\u2026.<o:p><\/o:p><\/div>\n<div><\/div>\n<div>Yours truly,<o:p><\/o:p><\/div>\n<p><\/p>\n<div>F.O. &nbsp;(The Entrepreneur)<o:p><\/o:p><\/div>\n<!--CusAds0-->\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Exactly a year ago, my business hit a brick wall. Prior to this time, I had been struggling with cash flow issues; this continued to go on then business activities slowed down such that the business could no longer fund itself. This was a really difficult time for me but today, I look back and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-62","post","type-post","status-publish","format-standard","hentry","category-business-diaries"],"_links":{"self":[{"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=\/wp\/v2\/posts\/62","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62"}],"version-history":[{"count":1,"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=\/wp\/v2\/posts\/62\/revisions"}],"predecessor-version":[{"id":618,"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=\/wp\/v2\/posts\/62\/revisions\/618"}],"wp:attachment":[{"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biznessvirgins.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}